the partnership

when partner vacation becomes excessive

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norway copyright 2016 r telbergit’s not usually the time off that’s the problem, it’s the pay.

by marc rosenberg
partner comp: art & science

if there is a practice management abuse that makes me want to wring a partner’s neck, this one is a great candidate: partners who take a “clearly excessive” amount of vacation every year, maintain that they are working full time and expect their compensation to be unaffected.

more on partner compensation: paying for current vs. historical performance | how profitability affects income allocation | paying new partners and lateral hires | 3 rules for promotion to partner | should the mp be the highest paid partner? | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 subjective compensation systems | how partners view compensation: it’s not all about the money
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the partners committing this abuse are almost always founding partners, rainmakers or a former mp. in all of my experiences with this problem, the firms were under $10 million.
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why accountability counts

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a young basketball player passing the ball across the courtit’s not a management fad, it’s the essence of your success.

by august j. aquila
what makes a great partnership

“professional service is an execution game.” – rob lees

lack of accountability is not a new phenomenon. there are several factors that have caused accountability to become an important element of successful cpa firms today.

more on great partnerships: fighting restraining forces | how you can get partners to change | why expectations must be defined | are you driving your best partners crazy? | 7 warning signs for your firm | the checks and balances your firm needs | how to build a better firm through teamwork | drop politics, be accountable | what makes a successful strategic plan? | innovate or die | partners love, hate leadership | 8 ways leaders destroy firms | how to combine two firms after merger: carefully
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the external environment has changed and firms find themselves in an environment of:
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what commitment means now

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smiling woman with colleagues in backgrounddo you and your firm have the same perception?

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style. the need for commitment is showcased below and was repeated many times in various different ways.

so many use us as a stepping stone and we’re now trying to determine who those are at the interview stage.

more on the passport to partnership: 13 steps to true commitment | how good is your network? | rfps: 7 things not to do | 5 ways to evaluate your communication | 7 levels of communication management | 5 ways to get buy-in for firm culture | partnership: competence is just the foot in the door
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

proof – if any were needed – that long-term commitment is not a given in the next generation of accounting professionals.
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paying for current vs. historical performance

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two businessmen running together in officedo you value originated and inherited book the same?

by marc rosenberg
partner comp: art & science

this nuance is recognized more effectively at larger firms where, to preserve one’s income or merit an increase, partners must demonstrate proactive contributions to the firm year after year. at smaller firms, partners are often able to maintain their income largely based on past performance.

more on partner compensation: how profitability affects income allocation | management stipends: who, how and why | paying part-time partners | how to set the managing partner’s compensation | partner pay: open vs. closed compensation systems | 11 points in designing a partner comp system | what partners earn and how they earn it
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

partners who perform well every year:
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fighting restraining forces

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post with two signs, "same" and "change"plus 5 things we can learn from weight watchers.

by august j. aquila
what makes a great partnership

let’s examine restraining forces through a case study.

more on great partnerships: how you can get partners to change | communication goes both ways | why shared values are important | why ‘walking together’ is so important | 6 ways to pay partners | how to build a better firm through teamwork | innovate or die | 8 ways leaders destroy firms
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thomas was assigned to take over a niche area in the firm. the area had had high productivity in the past.
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13 steps to true commitment

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martin bissett: "make continual deposits in the goodwill account."what it means for partners.

by martin bissett
passport to partnership

rising from senior manager to partner often means being promoted ahead of our peers and contemporaries. it creates a gap in earnings, stature and influence compared to those who just yesterday were our colleagues on a level playing field.

more on the passport to partnership: how good is your network? | shift thinking from ‘we’ to ‘you’ | 7 mistakes to avoid when going after new work | why communication matters so much | 3 questions to evaluate your firm culture | competence: more than technical skills | are you partner material? maybe not
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it can also mean that if we are coming into a firm from the outside, we are being promoted over people who have served at that firm for many years and understand the culture of the firm a lot better than we do right now. we may have to lead these people as the head of a department and if so, they’d better be on our side.
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how profitability affects income allocation

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man counting $100 bills into three pilesdon’t put the one-firm concept at risk.

by marc rosenberg
partner comp: art & science

intuitively, it makes sense for any organization (not just cpa firms) with multiple locations and departments to measure the profitability of each area.

more on partner compensation: management stipends: who, how and why | partner pay in retirement transition period | how to pay non-equity partners | 5 types of partner evaluations | how large and small firms allocate income | partner pay: recapping the compensation systems | why firms use partner comp formulas | partner compensation: an art, not a science
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

industrial companies routinely measure profits by product or plant. why shouldn’t cpa firms do the same, especially with the most obvious candidates: the accounting and auditing (a&a) and tax departments?
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how you can get partners to change

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aquilaquote_planvsexecute_gbask what will happen if nothing changes.

by august j. aquila
what makes a great partnership

do you ever wonder why your best plan is never implemented? why some of your partners sabotage what you are trying to do in the firm?

more on great partnerships: communication goes both ways | chemistry and mutual respect matter | great cpa firm partnerships begin with trust | the 4 best ways to use pre-retirement partners | work together better in 11 steps | drop politics, be accountable | what makes a successful strategic plan?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

over the years i have seen firms develop great strategic, operational and compensation plans and then nothing ever happens. the plans are not implemented for a myriad of reasons.
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how good is your network?

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4 happy co-workers looking at man's tabletbonus checklist: 5 questions to evaluate your network and skills.

by martin bissett
passport to partnership

ask yourself and answer these questions when considering the current and future “conversion” tactics that you’ll employ.

more on the passport to partnership: shift thinking from ‘we’ to ‘you’ | when to ignore a white lie: a cautionary tale | communicate your worth and value | best practices for one-on-one communication | learn to read your firm’s culture
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  1. if i were to start today, could i name four businesses that i’d like to reach out to?
  2. what is our firm’s net fee growth goal this year and what can i do to contribute to it?
  3. what do i need to do to be able to handle the tough stuff like negotiation, pricing and handling objections? what start to learning these skills can i make today?

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management stipends: who, how and why

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businessman sitting behind his desk in the office talking on a mobile phone listening to the conversation with a serious expressionand when not to pay.

by marc rosenberg
partner comp: art & science

what is a management stipend and why is it necessary?

more on partner compensation: partner pay in retirement transition period | paying new partners and lateral hires | 3 rules for promotion to partner | should the mp be the highest paid partner? | integrating partner comp with strategic planning | partner pay: the declining importance of book of business | 3 non-performance-based comp systems
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

partners with significant, official internal duties require a substantial amount of time to do these jobs properly. main examples would be the managing partner, pic, practice group leader, executive and compensation committee members.
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communication goes both ways

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diagram of 2-way communication5 best practices on the way to greatness.

by august j. aquila
what makes a great partnership

the other elements of a good partnership won’t make much difference if there is not good or great two-way communication in the firm.

more on great partnerships: chemistry and mutual respect matter | why expectations must be defined | are you driving your best partners crazy? | 7 warning signs for your firm | the checks and balances your firm needs | don’t weed out the roses | back to basics: 25 ways to grow your practice | 3 ways to halt a poor leader | 8 questions that staff ask in a merger | 8 financial ducks to line up now
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

managing partners and partners need to communicate frequently and effectively to make a partnership work.  poor communication is often at the root of many a partnership’s problems.
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shift thinking from ‘we’ to ‘you’

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portrait of a cheerful businessman smiling at the camerabusinesses place value on expertise.

by martin bissett
passport to partnership

please start understanding, valuing and respecting your own value in the marketplace with clients who could not reach their goals without you.

more on the passport to partnership: when to ignore a white lie: a cautionary tale | rfps: 7 things not to do | 5 ways to evaluate your communication | 7 levels of communication management | 5 ways to get buy-in for firm culture | partnership: competence is just the foot in the door | are you partner material? maybe not
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

businesses are in need – sometimes desperate need – of your technical expertise and caring approach.
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chemistry and mutual respect matter

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beakers containing colorful chemicalswhy and how to evaluate chemistry among partners.

by august j. aquila
what makes a great partnership

birds of a feather flock together according to the old saying.

more on great partnerships: why expectations must be defined | why shared values are important | why ‘walking together’ is so important | 6 ways to pay partners | how to build a better firm through teamwork | 8 questions to analyze your pricing | 24 points for after the deal is done | 5 questions for every mp to answer honestly | 6 practical ways to innovate | how to combine two firms after merger: carefully
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you can generally judge your chemistry with someone in the earliest minutes of meeting them. it’s often best to trust your first impressions, which are based on a lifetime of experience interacting with other people.
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